To what extent is de beers diamond company responsible for the pricing of diamonds today

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Name Professor’s Name Course Number Date To What Extent Is De Beers Diamond Company Responsible For the Pricing of Diamonds Today. Diamonds have been one of the most precious stones for centuries. One of the factors that make diamonds exclusive from other types of gem colored gem stones is its price. For years, diamonds have retained their reputation for constant unimaginably high prices in the market. There are many reasons that have been given to explain this extra ordinary value of these stones in different contexts. Most people claim that the diamonds have retained their value not just because of their magnificence but because of their rarity in existence. Is it true that these stones are rarely found even in its most recognized mines? It is evident from many experiences that whenever there is something of such big value, there are always a certain group of people who have the highest claim and control over the commodity. The de Beers diamond company is one of the companies that have controlled the diamond business and market for a long time. The de Beers company was formed back in the 19th century by Cecil Rhodes who managed it and gained much control of the South Africa’s diamond mining and trade market. The company was taken over in the 20th century by Oppenheimer after Rhodes' death. The de Beers company has used different methods over the years to ensure that they retain the ultimate control over the diamond market in bother perspectives of mining and supply. Although many other companies have erupted to give de beers competition, it still controls the market prices for most types of diamonds. How De Beers Controls the Market Prices for Global

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